Posted: Sun, May 12, 2019, 10:52 AM ET (1452 GMT)
The Senate confirmed Wednesday three nominees for the board of the Ex-Im Bank. Senators voted by large margins to confirm Kimberly Reed as president of the bank and Spencer Bachus III and Judith DelZoppo Pryor to serve on the board. The confirmations mean that the bank's five-member board has a quorum for the first time since it was reauthorized in late 2015, allowing it to approve deals valued at greater than $10 million, including commercial satellites and launches. Industry advocates for the bank welcomed the confirmations, but said Congress now needs to work to extend the bank's authorization, currently set to expire at the end of September.